Taronis Technologies announces purchase contract for up to 30 gasification units
Earlier today, Taronis Technologies announced a binding, definitive purchase contract for up to 30 gasification units on behalf of Taronis Fuels. The contract consists of an initial purchase of 15 units over 18 months. The contract also includes an option to purchase an additional 15 units over 18 months. If a minimum of 15 units are purchased, the purchaser will receive a perpetual license for the Turkish market to the counterparty. Each gasification unit carries an upfront purchase price of $3.75M, and would include a 10 year maintenance contract for an additional $1.75M per unit. The overall contract also includes a perpetual 3% royalty on all gas produced. If all 30 units are purchased, the total value of the contract, excluding royalties would be $165M. The company estimates that Turkey may likely ultimately require approximately 75 units to service the entire economy.